Bloomberg News

USDA Boxed Beef Cutout Closing Prices for October 19

October 19, 2012

October 19 (Bloomberg) -- This table details boxed beef cutout prices supplied daily by the U.S. Department of Agriculture. Prices and loads traded are as of 3:00 p.m. U.S. central time.

Prices are determined from cuts in dollars a hundredweight and vary between higher-quality choice cuts and select beef cuts for sale f.o.b. Omaha, Nebraska.

CHOICE SELECT

600-900 600-900 ------------------------------------------------------------------------------- Current Cutout Values: 196.68 180.45 Change from prior day: (0.13) (0.43) ------------------------------------------------------------------------------- Choice/Select spread: 16.24

Total Load Count (Cuts, Trimmings, Grids): 164 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 290.03 240.74 Primal Chuck 172.89 162.95 Primal Round 179.44 174.21 Primal Loin 251.67 220.28 Primal Brisket 140.40 136.44 Primal Short Plate 124.14 128.47 Primal Flank 98.88 98.27 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 10/18 69 56 25 17 167 196.81 180.88 10/17 70 80 21 44 214 195.71 180.75 10/16 69 58 18 28 173 195.10 180.55 10/15 64 51 13 23 152 193.96 178.89 10/12 66 55 7 21 150 191.67 177.04 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 194.65 179.62 -------------------------------------------------------------------------------- NATIONAL BOXED BEEF CUTS - NEGOTIATED SALES FOB Plant basis negotiated sales for delivery within 0-21 day period. Prior days sales after 1:30pm are included.

CURRENT VOLUME - (one load equals 40,000 pounds)

Choice Cuts 60.30 loads 2,411,958 pounds Select Cuts 75.10 loads 3,004,060 pounds Trimmings 19.91 loads 796,573 pounds Ground Beef 8.22 load 328,702 pounds ------------------------------------------------------------------------------- Choice Cuts, Fat Limitations 1-6 (IM) = Individual Muscle IMPS/FL Sub-Primal # of Total Price Weighted

rades Pounds Range Average ------------------------------------------------------------------------------- 109E 1 Rib, ribeye, lip-on, bn-in 12 35,030 594.45 642.50 601.87 112A 3 Rib, ribeye, bnls, light 6 64,260 666.00 715.00 699.87 112A 3 Rib, ribeye, bnls, heavy 45 81,386 646.00 715.00 663.42 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 14 52,136 199.00 219.00 203.80 114A 3 Chuck, shoulder clod, trmd 22 111,658 208.24 228.50 215.92 114D 3 Chuck, clod, top blade 6 12,751 240.00 287.50 260.44 114E 3 Chuck, clod, arm roast 3 7,592 244.62 269.00 257.02 114F 5 Chuck, clod tender (IM) 10 17,176 320.00 375.00 330.15 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 17 42,702 305.00 335.00 320.05 116B 1 Chuck, chuck tender (IM) 20 50,009 212.88 250.00 220.33

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 28 108,857 205.00 232.00 213.51 120A 3 Brisket, point/off, bnls 14 28,629 347.50 384.50 369.14 123A 3 Short Plate, short rib 11 43,347 305.00 365.00 328.61 130 4 Chuck, short rib 22 48,377 184.20 270.00 225.85 160 1 Round, bone-in 3 6,748 212.50 222.00 221.20 161 1 Round, boneless 6 17,805 222.50 235.00 225.44

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 30 77,026 233.00 261.50 247.33 168 1 Round, top inside round 14 44,270 205.00 223.00 210.18 168 3 Round, top inside round 22 252,718 213.50 234.00 226.65 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 9 66,885 204.00 228.00 224.55 171B 3 Round, outside round 33 72,081 234.71 281.00 267.02 171C 3 Round, eye of round (IM) 17 46,131 251.00 285.00 272.95 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 6 5,221 487.00 526.00 506.32 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 12 10,362 430.00 486.71 443.28 180 3 Loin, strip, bnls, 0x1 22 56,611 485.00 560.00 515.31 184 1 Loin, top butt, bnls, heavy 9 11,382 294.00 304.50 297.38 184 3 Loin, top butt, boneless 24 109,151 296.00 338.50 321.86 185A 4 Loin, bottom sirloin, flap 24 40,286 323.00 380.00 347.28 185B 1 Loin, ball-tip, bnls, heavy 21 30,819 209.21 260.00 232.48 185C 1 Loin, sirloin, tri-tip (IM) 22 298,848 240.07 275.00 252.35 185D 4 Loin, tri-tip, pld (IM) 12 27,678 344.00 383.00 347.62 189A 4 Loin, tndrloin, trmd, heavy 14 37,058 984.00 1138.00 1021.52 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 31 134,208 383.00 494.00 403.53 ------------------------------------------------------------------------------- Select Cuts, Fat Limitations 1-6 (IM) = Individual Muscle IMPS/FL Sub-Primal # of Total Price Weighted

Trades Pounds Range Average ------------------------------------------------------------------------------- 109E 1 Rib, ribeye, lip-on, bn-in 5 21,354 470.00 497.71 476.46 112A 3 Rib, ribeye, bnls, light 12 119,977 515.00 590.00 529.21 112A 3 Rib, ribeye, bnls, heavy 50 278,767 497.33 566.00 515.01 113C 1 Chuck, semi-bnls, neck/off 6 32,043 213.00 225.00 216.39 114 1 Chuck, shoulder clod 11 36,078 195.00 217.00 202.03 114A 3 Chuck, shoulder clod, trmd 21 128,262 202.05 233.00 209.75 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 16 89,172 260.00 325.00 280.21 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 31 146,928 266.00 292.00 269.89 116B 1 Chuck, chuck tender (IM) 8 11,187 218.20 235.00 222.78

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 20 222,464 207.32 220.00 210.57 120A 3 Brisket, point/off, bnls 123A 3 Short Plate, short rib 5 10,921 300.00 356.00 338.78 130 4 Chuck, short rib 8 37,048 184.20 267.00 230.24 160 1 Round, bone-in 0 0 161 1 Round, boneless 4 12,067 219.00 233.00 224.91

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 19 214,179 233.63 250.19 236.77 168 1 Round, top inside round 9 30,753 197.00 216.50 202.80 168 3 Round, top inside round 16 63,245 212.98 226.00 217.66 169 5 Round, top inside, denuded 4 3,395 252.00 260.00 255.39

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 7 121,210 202.88 220.00 203.26 171B 3 Round, outside round 17 41,053 222.31 270.00 251.53 171C 3 Round, eye of round (IM) 20 67,092 224.60 260.00 232.48 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 9 1,645 410.00 448.00 432.49 175 3 Loin, strip loin, 1x1 0 0 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 11 18,480 373.00 476.00 418.58 184 1 Loin, top butt, bnls, heavy 6 13,179 230.00 290.00 254.42 184 3 Loin, top butt, boneless 19 72,868 258.00 295.00 268.79 185A 4 Loin, bottom sirloin, flap 17 139,514 330.00 366.00 340.32 185B 1 Loin, ball-tip, bnls, heavy 20 96,137 213.07 243.00 233.58 185C 1 Loin, sirloin, tri-tip (IM) 6 7,743 235.07 271.00 243.14 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 21 99,437 853.00 983.00 886.62 191A 4 Loin, butt tender, trimmed 4 1,086 875.00 910.50 888.57 193 4 Flank, flank steak (IM) 11 33,016 373.00 421.00 404.73 ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 9 120,813 92.00 120.00 97.39 121D 4 Plate, Inside Skirt (IM) 52 353,418 313.00 346.00 320.30 121C 4 Plate, Outside Skirt (IM) 24 227,227 476.00 570.00 488.89 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 34 271,025 241.94 272.00 256.07

Pectoral Meat 18 30,936 241.00 277.00 248.16 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 13 47,096 159.00 168.00 163.19 Ground Beef 75% Ground Beef 81% 23 52,011 181.27 214.00 195.17 Ground Beef 85% Ground Beef 90% Ground Beef 93% 3 4,051 255.24 269.50 266.92 Ground Beef Chuck 80% 8 40,205 190.00 204.00 198.35 Ground Beef Round 85% 4 3,671 215.00 219.00 217.64 Ground Beef Sirloin 90% 0 0 ------------------------------------------------------------------------------- BLENDED GB - STEER/HEIFER/COW SOURCE- 10 Pound Chub Basis - Coarse & Fine Grind ------------------------------------------------------------------------------- Blended Ground Beef 73% Blended Ground Beef 75% Blended Ground Beef 81% 10 56,942 188.30 205.00 194.46 Blended Ground Beef 85% Blended Ground Beef 90% 0 0 Blended Ground Beef 93% Blended Ground Beef Chuck 80% Blended Ground Beef Round 85% Blended Ground Beef Sirloin 90% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 27 778,333 58.20 70.09 62.16 Frozen 50% lean trimmings -------------------------------------------------------------------------------- FAT LIMITATIONS (FL) DESCRIPTION Maximum Average Fat Thickness Maximum Fat at any point 1. 3/4" (19mm) 1.0" 2. 1/4" (6mm) 1/2" 3. 1/8" (3mm) 1/4" 4. Practically free (75% surface lean exposed) 1/8" 5. Peeled/Denuded 1/8" 6. Peeled/Denuded, surface membrane removed 1/8" -------------------------------------------------------------------------------- Items that have no entries indicate there were trades but not reportable because they did not meet the daily 3/70/20 guideline. Please refer to weekly LM_XB459 as the item may qualify. --------------------------------------------------------------------------------

A cutout value is an average of the prices tallied for cuts of beef from cattle carcasses weighing 550-850 pounds. Cutout values are separated into three main product types. Fabricated loads are beef cuts taken from an animal's ribs, chuck, round, loin, brisket, short plate and flank; 50 percent loads are 50 percent lean beef trimmings. Ground loads may contain 73, 75, or 80 percent ground beef. A typical refrigerated truckload carries 40,000 pounds.

Choice 1-3 grade is a better grade than Select 1-3, partly because Choice cuts have more fat, or marbling, than Select cuts.

Grade quality is determined using a 1-5 yield grade scale. A rating of 1 is the highest ratio of muscle to fat, while 5 is the lowest. Marbling is an important flavor factor.


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